Range Resources Corporation (NYSE:RRC) Receives Average Recommendation of “Hold” from Brokerages

Range Resources Corporation (NYSE:RRC) has been assigned a consensus rating of “Hold” from the twenty-one analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $42.0556.

Several equities analysts have issued reports on the company. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Citigroup decreased their price target on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Morgan Stanley dropped their price objective on Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada raised their target price on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th.

Range Resources Stock Down 1.3%

Shares of Range Resources stock opened at $33.46 on Friday. Range Resources has a one year low of $30.32 and a one year high of $43.50. The company has a market cap of $7.93 billion, a P/E ratio of 14.06, a PEG ratio of 0.22 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day moving average of $36.86 and a two-hundred day moving average of $36.51.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $655.30 million for the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Range Resources’s payout ratio is currently 15.13%.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Range Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock worth $935,425,000 after acquiring an additional 799,574 shares during the period. Boston Partners boosted its position in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after purchasing an additional 4,398,042 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Range Resources by 7.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,291,202 shares of the oil and gas exploration company’s stock worth $312,075,000 after purchasing an additional 608,274 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in Range Resources by 2.0% in the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock valued at $291,263,000 after purchasing an additional 138,877 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Range Resources by 230.1% in the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock valued at $194,644,000 after purchasing an additional 3,336,299 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.